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Office of the Chief Financial Officer

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Office of Finance and Treasury

Mission and Function

The mission of the Office of Finance and Treasury (OFT) is to efficiently and effectively manage the financial assets and liabilities of the Government of the District of Columbia. This includes receiving, safekeeping, investing, disbursing, recording, and acquiring District financial resources. The core financial assets are cash and equivalents and accounts receivable, and the core financial liabilities are debt and accounts payable. In carrying out this mission, it is essential that OFT provides high-quality, customer-friendly service to its internal customers, as well as OCFO agencies, other government external customers (other government agencies and the public).

Key Responsibilities

Debt Management, Economic Development Finance, and Grants Management

  • The Debt Management Unit provides for the issuance of bonds, notes, and other financing vehicles for the District, so that it can finance capital infrastructure projects and help ensure seasonal cash needs.
  • The Economic Development Finance (EDF) Unit provides for the issuance of Tax-Increment Financing (TIF) and Payment in Lieu of Taxes (PILOT) financing, including the evaluation, structuring and ongoing management of TIF and PILOT debt. EDF also provides financial analyses of certain tax abatements and exemptions, prepares the annual Unified Economic Development Report, and advises on financial matters related to the District’s economic development.
  • The Grants Management Unit manages the cash and accounting of District agencies' federal grant drawdowns.

Asset Management

  • The Cash and Investment Management Unit is responsible for the District’s liquidity by ensuring there is enough cash available at all times to meet its business operation and capital program obligations, and maximize investment returns. It also ensures strong custodial care and safeguarding of cash through implementing and monitoring policies and procedures for the handling and management of the District’s cash and investments.
  • The Retirement Management Unit provides for the management of the District-run retirement plans and college savings plan.
  • The Unclaimed Property Unit administers the rules and regulations pursuant to the District of Columbia Uniform Disposition of Unclaimed Property Act of 1980, as amended. This office is responsible for the record-keeping and maintenance activities for all personal property, tangible and intangible, reported and delivered into the custody of the mayor pursuant to the act. This office is also responsible for the verification and payment of claims against unclaimed property to the proven owner(s).

Banking and Operations

Biographies of Key Staff

  • Deputy CFO and Treasurer: Carmen Pigler
  • Associate Treasurer for Banking and Operations: Vacant
  • Associate Treasurer for Asset Management: Benedict Richardson
  • Associate Treasurer for Debt and Grants Management: Darryl Street

Contact Us

Office of Finance and Treasury

1101 4th Street, SW
Suite 850W
Washington, DC 20024
(202) 727-6055